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. heather: good thing. all right so growing concerns for the future of u.s. cities as stoc stockton, california heads to bankruptcy court. they racked up a billion dollars in debt in two years. we hear about other places in similar situation. some are wondering whether other u.s. cities will soon follow. matt mccall is president of financial group l. l. c. and countdown to the closing bell on fox network. california's 13th largest city officially heading to bankruptcy court today. a city in detroit trying to avoid the same thing, the largest city ever to be put under state control. if i live in a small town say in mississippi, i live in a farming community out in midwest or here in the big city of new york city, why do i care, how does it effect me, liz? >> it is interesting if you are part of a municipality that is in debt. when it comes to the clip that happened here situation probably unlikely unless your city finances are in such arrears and a dire state that you too should be watching. everyone can learn a lesson with what is happening in stockton, california today. heather: ta
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